VECKA 12
Tisdag
19
Mars
BT-annons
2020-06-11
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Ta rygg på Argentina
I Argentina har det mesta av dagens stimulanser redan testats.

GURU CORNER klippt från en tidigare utgåva av Göran Högbergs Finanskrönika, abonnera här!

After years of negative rates, Sweden's central bank moves toward positive rates again.

But this is setting the stage for an economic bust. 

Argentina is a great place for us to explore the future. That is, all the bad ideas… bad policies… and bad politics that are now developing in the U.S. have been rehearsed for many years – 8 decades, to be more precise – south of the Rio de la Plata.

Runaway spending programs? Check!

Huge government deficits? Check!

Uncontrolled money-printing? Check! Price fixing? Uh huh. Tariffs and subsidies to protect crony industries?

Yep. Phony statistics, fake news, demagoguery, pandering? If they haven’t tried it in Argentina, it’s not worth trying.

The last sixteen months of López Obrador's administration have been a show of incompetence, yet people continue to cling to the idea that the key to solving Mexico's problems is getting the "right people" in office.

The Federal Reserve’s grifters swallowed the academic claptrap.

They claimed they could manage the economy by falsifying interest rates… and “stimulate” it with fake money. And the public was ready to swallow anything, if there was free money involved.

Then, each time the economy or the markets tried to correct, the feds intervened with more “stimulus.”

This inevitably caused more wriggling and jiggling inside the economy… and then they had to swallow something even bigger to try to stop it.

The Federal Reserve's monumental mistake of cutting rates this past week can only be understood in the context of the rising God complex of central planners: an overwhelming combination of ignorance and arrogance. 

The authorities continue to react, resist, and panic. They might not be able to do anything to stop the virus… but they might be able to get stock prices up!

Nice and easy does it, 

 
Göran Högberg

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